Wall Street Zen Downgrades Energous (NASDAQ:WATT) to Sell

Energous (NASDAQ:WATT) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

Separately, Weiss Ratings raised shares of Energous from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Reduce”.

Energous Price Performance

Energous stock opened at $15.56 on Friday. The business’s 50-day simple moving average is $19.66 and its 200 day simple moving average is $18.77. The stock has a market cap of $85.58 million, a price-to-earnings ratio of -3.80 and a beta of 1.58. Energous has a 12-month low of $3.62 and a 12-month high of $36.98.

Insider Buying and Selling at Energous

In other news, CEO Mallorie Sara Burak acquired 1,867 shares of Energous stock in a transaction that occurred on Wednesday, May 27th. The shares were acquired at an average price of $26.47 per share, with a total value of $49,419.49. Following the purchase, the chief executive officer directly owned 26,999 shares of the company’s stock, valued at $714,663.53. The trade was a 7.43% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Energous

Several large investors have recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in Energous by 85.4% in the fourth quarter. Geode Capital Management LLC now owns 18,713 shares of the industrial products company’s stock worth $75,000 after purchasing an additional 8,619 shares during the period. Quantinno Capital Management LP bought a new stake in shares of Energous in the first quarter worth about $220,000. 3Chopt Investment Partners LLC bought a new stake in shares of Energous in the first quarter worth about $282,000. Bank of New York Mellon Corp bought a new stake in shares of Energous in the second quarter worth about $301,000. Finally, NewEdge Advisors LLC raised its position in shares of Energous by 8,628.4% during the first quarter. NewEdge Advisors LLC now owns 31,946 shares of the industrial products company’s stock worth $501,000 after purchasing an additional 31,580 shares during the period. Institutional investors own 4.35% of the company’s stock.

About Energous

Energous Corporation develops and commercializes radio frequency (RF)–based wireless charging technology designed to deliver power over the air to compatible devices. Its WattUp platform includes near‐field and far‐field transmitters that emit targeted RF energy and receiver modules that convert that energy into electrical power. The company’s solutions aim to eliminate the need for cables and charging pads by enabling contactless power delivery to a range of products, from wearables and IoT sensors to medical devices and consumer electronics.